PPF appoints CIO

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UK - The Pension Protection Fund (PPF) has appointed Ian McKinlay as chief investment officer to the fund.

McKinlay was seconded to the PPF from PricewaterhouseCoopers (PwC) to fill the CIO role between April and October 2008, following the departure of the previous incumbent, but has now been appointed to the role full-time following an "open and fully competitive recruitment exercise".

He was previously head of the investment consulting practice at PwC, providing advice to corporate bodies on avoiding pension scheme risk, having joined from Aon Consulting in May 2007 where he had been employed as the head of the investment practice.

In his role as the new CIO at the PPF, McKinlay - who has also worked as an actuary at Scottish Widows and Mercer - will take responsibility for overseeing the "evolution" of the fund's investment portfolio estimated at more than £3bn (€3.4bn).

Martin Clarke, director of financial risk at the PPF, said: "Our investment portfolio has grown substantially since we were set up more than four years ago. This means that it is crucial we manage and grow that portfolio effectively to maximise returns and help make sure we continue to pay out compensation to our members. Ian brings to this job the knowledge and experience we need to do just that.

"I'm joining the PPF at a time when we are facing enormous economic challenges and I look forward to helping the organisation evolve its investment strategy to help meet those challenges," added McKinlay.

The appointment of a new CIO follows the recent news confirming Alan Rubenstein will be taking over as chief executive of the organisation from Partha Dasgupta in April 2009. (See earlier IPE article: Rubenstein to take over as PPF chief)

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